B. Riley Wealth Advisors Inc. Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

B. Riley Wealth Advisors Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,311 shares of the coffee company’s stock after selling 1,894 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Starbucks were worth $5,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SBUX. Vima LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. raised its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Cypress Capital Management LLC WY grew its position in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $81.33 on Tuesday. The firm’s 50 day moving average price is $80.87 and its two-hundred day moving average price is $89.09. The firm has a market cap of $92.12 billion, a P/E ratio of 22.41, a PEG ratio of 1.74 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,750 shares of company stock valued at $642,050. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBUX. BTIG Research lowered their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Guggenheim cut their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Evercore ISI cut their price target on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.00.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.